0001193125-12-468414.txt : 20121114 0001193125-12-468414.hdr.sgml : 20121114 20121114060207 ACCESSION NUMBER: 0001193125-12-468414 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20120930 FILED AS OF DATE: 20121114 DATE AS OF CHANGE: 20121114 EFFECTIVENESS DATE: 20121114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: U S GLOBAL INVESTORS INC CENTRAL INDEX KEY: 0000754811 STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282] IRS NUMBER: 741598370 STATE OF INCORPORATION: TX FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-02220 FILM NUMBER: 121200835 BUSINESS ADDRESS: STREET 1: 7900 CALLAGHAN RD CITY: SAN ANTONIO STATE: TX ZIP: 78229 BUSINESS PHONE: 2103081234 MAIL ADDRESS: STREET 1: 7900 CALLAGHAN ROAD CITY: SAN ANTONIO STATE: TX ZIP: 78229 FORMER COMPANY: FORMER CONFORMED NAME: UNITED SERVICES ADVISORS INC /TX/ DATE OF NAME CHANGE: 19950321 13F-HR 1 d438940d13fhr.txt FORM 13F UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2012 Check here if Amendment [ ]; Amendment Number: ____________________ This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: U.S. GLOBAL INVESTORS INC. Address: 7900 CALLAGHAN ROAD SAN ANTONIO, TEXAS 78229-2327 Form 13F File Number: 028-02220 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Susan McGee Title: President Phone: (210) 308-1234 Signature, Place, and Date of Signing: /s/ Susan B. McGee San Antonio, TX 11/14/2012 ------------------------ ------------------------ ------------------------ [Signature] [City, State] [Date] Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: Form 13F Information Table Entry Total 431 Form 13F Information Table Total Value (x1000) 958,949 FORM 13F INFORMATION TABLE

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------------------ ---------------- --------- --------- ------------------- ---------- -------- --------------------- SHARES OR VOTING AUTHORITY VALUE PRINCIPAL SH/ PUT/ INVESTMENT OTHER --------------------- NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) AMOUNT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- --------- ---------- --- ---- ---------- -------- ---- --------- ------ AETNA INC NEW COM COM 00817Y108 158 4,000 SH Sole 4,000 AGNICO EAGLE MINES LTD COM COM 008474108 7,782 150,000 SH Sole 150,000 AGNICO EAGLE MINES LTD COM COM 008474108 18,158 350,000 SH Sole 350,000 AGNICO EAGLE MINES LTD COM COM 008474108 259 5,000 SH Sole 5,000 AGNICO EAGLE MINES LTD COM COM 008474108 519 10,000 SH Sole 10,000 AGNICO EAGLE MINES LTD COM COM 2ZL99U251 15,606 3,008 SH CALL Sole 3,008 AGNICO EAGLE MINES LTD COM COM 2ZL99U251 5,198 1,002 SH CALL Sole 1,002 AGNICO EAGLE MINES LTD COM COM 89V99M946 5,800 1,118 SH CALL Sole 1,118 AGNICO EAGLE MINES LTD COM COM 89V99M946 2,890 557 SH CALL Sole 557 AKAMAI TECHNOLOGIES INC COM COM 00971T101 314 8,210 SH Sole 8,210 ALERIAN MLP ETF ALERIAN MLP 00162Q866 109 6,550 SH Sole 6,550 ALERIAN MLP ETF ALERIAN MLP 00162Q866 50 3,000 SH Sole 3,000 ALEXCO RESOURCE CORP COM COM 01535P106 868 200,000 SH Sole 200,000 ALEXCO RESOURCE CORP COM COM 01535P106 1,411 325,000 SH Sole 325,000 ALEXION PHARMACEUTICALS INC COM COM 015351109 172 1,500 SH Sole 1,500 ALEXION PHARMACEUTICALS INC COM COM 015351109 1,144 10,000 SH Sole 10,000 ALLIED NEVADA GOLD CORP COM COM 019344100 2,930 75,000 SH Sole 75,000 ALMADEN MINERALS LTD COM COM 020283107 1,581 580,000 SH Sole 580,000 ALMADEN MINERALS LTD COM /CAD/ COM 020283107 80 30,000 SH Sole 30,000 ALTRIA GROUP INC COM COM 02209S103 107 3,200 SH Sole 3,200 AMERICAN TOWER CORP NEW COM COM 03027X100 214 3,000 SH Sole 3,000 AMERIPRISE FINL INC COM COM 03076C106 193 3,400 SH Sole 3,400 AMGEN INC COM COM 031162100 211 2,500 SH Sole 2,500 AMGEN INC COM COM 031162100 110 1,300 SH Sole 1,300 AMPHENOL CORP NEW CL A CL A 032095101 293 4,975 SH Sole 4,975 ANADARKO PETE CORP COM COM 032511107 699 10,000 SH Sole 10,000 ANGLOGOLD ASHANTI LTD SPONSORED ADR SPONSORED ADR 9T199W934 7,164 2,044 SH CALL Sole 2,044 ANNIES INC COM COM 03600T104 359 8,000 SH Sole 8,000 APOLLO GROUP INC CL A CL A 037604105 186 6,400 SH Sole 6,400 APPLE INC COM COM 037833100 1,001 1,500 SH Sole 1,500 APPLE INC COM COM 037833100 324 485 SH Sole 485 APPLE INC COM COM 037833100 2,335 3,500 SH Sole 3,500 ASIA ENTN & RESOURCES LTD SHS SHS G0539K108 48 16,000 SH Sole 16,000 ASML HOLDING N V NY REG SHS SHS N07059186 287 5,350 SH Sole 5,350 ASSURANT INC COM COM 04621X108 187 5,000 SH Sole 5,000 AT&T INC COM COM 00206R102 342 9,075 SH Sole 9,075 AT&T INC COM COM 00206R102 113 3,000 SH Sole 3,000 ATLAS ENERGY LP COM UNITS LP LP 04930A104 1,900 55,000 SH Sole 55,000 AURICO GOLD INC COM COM 05155C105 5,975 850,000 SH Sole 850,000

AURICO GOLD INC COM COM 05155C105 4,305 616,700 SH Sole 616,700 AURICO GOLD INC COM COM 05155C105 2,361 338,300 SH Sole 338,300 AURICO GOLD INC COM COM 2WK993341 1,626 2,313 SH CALL Sole 2,313 AURICO GOLD INC COM COM 2WK993341 592 842 SH CALL Sole 842 AUTONATION INC COM COM 05329W102 197 4,500 SH Sole 4,500 BAIDU INC SPON ADR REP A SPON ADR REP A 056752108 164 1,400 SH Sole 1,400 BAIDU INC SPON ADR REP A SPON ADR REP A 1W6995707 1,752 150 SH CALL Sole 150 BALL CORP COM COM 058498106 173 4,100 SH Sole 4,100 BANK OF NEW YORK MELLON CORP COM 064058100 104 4,600 SH Sole 4,600 BARRICK GOLD CORP COM COM 067901108 6,264 150,000 SH Sole 150,000 BARRICK GOLD CORP COM COM 067901108 5,220 125,000 SH Sole 125,000 BARRICK GOLD CORP COM COM 93W99V293 15,823 3,789 SH CALL Sole 3,789 BARRICK GOLD CORP COM COM 93W99V293 2,593 621 SH CALL Sole 621 BAXTER INTERNATIONAL INC COM 071813109 114 1,900 SH Sole 1,900 BB&T CORP COM COM 054937107 139 4,200 SH Sole 4,200 BEMIS INC COM COM 081437105 179 5,700 SH Sole 5,700 BEST BUY INC COM COM 086516101 122 7,100 SH Sole 7,100 BHP BILLITON LTD SPONSORED ADR SPONSORED ADR 088606108 10,292 150,000 SH Sole 150,000 BP PRUDHOE BAY RTY TR UNIT BEN INT 055630107 53 570 SH Sole 570 BP PRUDHOE BAY RTY TR UNIT BEN INT 055630107 114 1,220 SH Sole 1,220 BP PRUDHOE BAY RTY TR UNIT BEN INT 055630107 210 2,240 SH Sole 2,240 BRF-BRASIL FOODS S A SPONSORED ADR SPONSORED ADR 10552T107 10,121 585,000 SH Sole 585,000 BRISTOL MYERS SQUIBB CO COM 110122108 106 3,150 SH Sole 3,150 BUNGE LIMITED COM COM G16962105 10,688 159,400 SH Sole 159,400 CARDTRONICS INC COM COM 14161H108 893 30,000 SH Sole 30,000 CELGENE CORP COM COM 151020104 382 5,000 SH Sole 5,000 CELGENE CORP COM COM 151020104 840 11,000 SH Sole 11,000 CENOVUS ENERGY INC COM COM 15135U109 10,769 309,000 SH Sole 309,000 CENTURYLINK INC COM COM 156700106 162 4,000 SH Sole 4,000 CENTURYLINK INC COM COM 156700106 334 8,276 SH Sole 8,276 CF INDS HLDGS INC COM COM 125269100 778 3,500 SH Sole 3,500 CF INDS HLDGS INC COM COM 125269100 667 3,000 SH Sole 3,000 CHART INDS INC COM PAR $0.01 COM PAR $0.01 16115Q308 923 12,500 SH Sole 12,500 CHINA MOBILE LIMITED SPONSORED ADR SPONSORED ADR 16941M109 584 10,551 SH Sole 10,551 CHUYS HLDGS INC COM ADDED COM 171604101 368 15,000 SH Sole 15,000 CIRRUS LOGIC INC COM COM 172755100 768 20,000 SH Sole 20,000 CLAUDE RES INC COM COM 182873109 863 1,010,000 SH Sole 1,010,000 CLAUDE RES INC COM COM 182873109 1,295 1,515,000 SH Sole 1,515,000 CLAYMORE EXCHANGE TRD FD TR GUGG TIMBER ETF 18383Q879 58 3,145 SH Sole 3,145 CLAYMORE EXCHANGE TRD FD TR GUGG TIMBER ETF 18383Q879 102 5,535 SH Sole 5,535 COCA COLA CO COM COM 191216100 106 2,800 SH Sole 2,800 COCA COLA ENTERPRISES INC NE COM COM 19122T109 188 6,000 SH Sole 6,000 COEUR D ALENE MINES CORP IDA COM NEW COM NEW 192108504 5,478 190,000 SH Sole 190,000 COEUR D ALENE MINES CORP IDA COM NEW COM NEW 192108504 11,676 405,000 SH Sole 405,000 COMMVAULT SYSTEMS INC COM COM 204166102 822 14,000 SH Sole 14,000 COMPASS MINERALS INTL INC COM COM 20451N101 9,025 121,000 SH Sole 121,000 COMSTOCK MNG INC COM COM 205750102 3,270 1,000,000 SH Sole 1,000,000 CONCHO RES INC COM COM 20605P101 8,528 90,000 SH Sole 90,000 CONOCOPHILLIPS COM COM 20825C104 143 2,500 SH Sole 2,500 CONOCOPHILLIPS COM COM 20825C104 109 1,900 SH Sole 1,900 CONSOL ENERGY INC COM COM 20854P109 7,663 255,000 SH Sole 255,000 CONSTELLATION BRANDS INC CL A CL A 21036P108 184 5,700 SH Sole 5,700 CORE LABORATORIES N V COM COM N22717107 607 5,000 SH Sole 5,000 CROWN CASTLE INTL CORP COM COM 228227104 356 5,548 SH Sole 5,548 CYBERONICS INC COM COM 23251P102 1,048 20,000 SH Sole 20,000 D R HORTON INC COM COM 23331A109 413 20,000 SH Sole 20,000 D R HORTON INC COM COM 23331A109 330 16,000 SH Sole 16,000 D R HORTON INC COM COM 23331A109 846 41,000 SH Sole 41,000 DAVITA INC COM COM 23918K108 207 2,000 SH Sole 2,000 DAVITA INC COM COM 23918K108 829 8,000 SH Sole 8,000 DEVON ENERGY CORP NEW COM COM 25179M103 756 12,500 SH Sole 12,500 DEVON ENERGY CORP NEW COM COM 25179M103 133 2,200 SH Sole 2,200 DEVON ENERGY CORP NEW COM COM 25179M103 109 1,800 SH Sole 1,800 DIRECT MKTS HLDGS CORP COM COM 25456U109 0 10,000 SH Sole 10,000 DISCOVERY COMMUNICATNS NEW COM SER A COM SER A 25470F104 334 5,600 SH Sole 5,600 DONNELLEY R R & SONS CO COM COM 257867101 148 14,000 SH Sole 14,000 DRDGOLD LIMITED SPON ADR REPSTG SPON ADR REPSTG 26152H301 635 100,000 SH Sole 100,000 DXP ENTERPRISES INC NEW COM NEW COM NEW 233377407 717 15,000 SH Sole 15,000 EBAY INC COM COM 278642103 242 5,000 SH Sole 5,000 EBAY INC COM COM 278642103 326 6,725 SH Sole 6,725 EBAY INC COM COM 278642103 726 15,000 SH Sole 15,000 ELDORADO GOLD CORP NEW COM COM 284902103 12,131 796,000 SH Sole 796,000 ELDORADO GOLD CORP NEW COM COM 284902103 3,048 200,000 SH Sole 200,000 ELDORADO GOLD CORP NEW COM COM 284902103 5,029 330,000 SH Sole 330,000 ELDORADO GOLD CORP NEW COM COM 2XJ99U671 2,438 1,600 SH CALL Sole 1,600 ELDORADO GOLD CORP NEW COM COM 2XJ99U671 1,372 900 SH CALL Sole 900 EMERSON ELEC CO COM COM 291011104 169 3,500 SH Sole 3,500 ENSCO PLC SHS CLASS A SHS CLASS A G3157S106 11,632 213,200 SH Sole 213,200 ENTERGY CORP NEW COM COM 29364G103 187 2,700 SH Sole 2,700 ENTERGY CORP NEW COM COM 29364G103 111 1,600 SH Sole 1,600 ENTERPRISE PRODS PARTNERS L COM COM 293792107 10,398 194,000 SH Sole 194,000 ENTREE GOLD INC COM COM 29383G100 1,589 2,740,000 SH Sole 2,740,000 ETFS PALLADIUM TR SH BEN INT SH BEN INT 26923A106 629 10,000 SH Sole 10,000 ETFS PALLADIUM TR SH BEN INT SH BEN INT 26923A106 189 3,000 SH Sole 3,000 EXPRESS SCRIPTS HLDG CO COM COM 30219G108 251 4,000 SH Sole 4,000 EXPRESS SCRIPTS HLDG CO COM COM 30219G108 752 12,000 SH Sole 12,000 EXXON MOBIL CORP COM COM 30231G102 183 2,000 SH Sole 2,000 EXXON MOBIL CORP COM COM 30231G102 110 1,200 SH Sole 1,200 FIFTH THIRD BANCORP COM COM 316773100 155 10,000 SH Sole 10,000 FIRST MAJESTIC SILVER CORP COM COM 32076V103 11,585 500,000 SH Sole 500,000 FIRST MAJESTIC SILVER CORP COM COM 32076V103 3,012 130,000 SH Sole 130,000 FIRST MAJESTIC SILVER CORP COM COM 32076V103 3,707 160,000 SH Sole 160,000 FIRST MAJESTIC SILVER CORP COM COM 32076V103 278 12,000 SH Sole 12,000 FIRST MAJESTIC SILVER CORP COM COM 32076V103 579 25,000 SH Sole 25,000 FIRSTENERGY CORP COM COM 337932107 176 4,000 SH Sole 4,000 FRANCO NEVADA CORP COM COM 351858105 3,536 60,000 SH Sole 60,000 FRANCO NEVADA CORP COM COM 351858105 3,141 53,300 SH Sole 53,300 FRANCO NEVADA CORP COM /CAD/ COM 351858105 14 29,000 SH WTS Sole 29,000 FRANCO NEVADA CORP COM /CAD/ COM 351858105 42 4,767 SH WTS Sole 4,767 FREEPORT-MCMORAN COPPER & GO COM COM 35671D857 11,751 296,890 SH Sole 296,890 FREEPORT-MCMORAN COPPER & GO COM COM 35671D857 59 1,500 SH Sole 1,500 FREEPORT-MCMORAN COPPER & GO COM COM 35671D857 111 2,800 SH Sole 2,800 FRESH MKT INC COM COM 35804H106 240 4,000 SH Sole 4,000 FRESH MKT INC COM COM 35804H106 780 13,000 SH Sole 13,000 FRONTIER COMMUNICATIONS CORP COM COM 35906A108 147 30,000 SH Sole 30,000 FRONTIER COMMUNICATIONS CORP COM COM 35906A108 319 65,000 SH Sole 65,000 GARTNER INC COM COM 366651107 323 7,000 SH Sole 7,000 GARTNER INC COM COM 366651107 645 14,000 SH Sole 14,000 GENERAL DYNAMICS CORP COM 369550108 106 1,600 SH Sole 1,600 GIANT INTERACTIVE GROUP INC ADR ADR 374511103 89 17,100 SH Sole 17,100 GLOBAL X FDS GLB X URANIUM 37950E754 56 7,300 SH Sole 7,300 GLOBAL X FDS GLB X URANIUM 37950E754 99 12,900 SH Sole 12,900 GOLD FIELDS LTD NEW SPONSORED ADR SPONSORED ADR 5MY99Q542 3,678 2,862 SH CALL Sole 2,862 GOLD FIELDS LTD NEW SPONSORED ADR SPONSORED ADR 5MY99Q542 100 78 SH CALL Sole 78 GOLD STD VENTURES CORP COM COM 380738104 1,082 560,000 SH Sole 560,000 GOLD STD VENTURES CORP COM COM 380738104 579 300,000 SH Sole 300,000 GOLDCORP INC NEW COM COM 380956409 4,998 109,000 SH Sole 109,000 GOLDCORP INC NEW COM COM 380956409 7,611 166,000 SH Sole 166,000 GOLDCORP INC NEW COM COM 8AY99W823 18,354 4,003 SH CALL Sole 4,003 GOLDCORP INC NEW COM COM 8AY99W823 7,918 1,727 SH CALL Sole 1,727 GOLDCORP INC NEW COM COM 3Z7992944 6,579 1,435 SH CALL Sole 1,435 GOLDCORP INC NEW COM COM 3Z7992944 3,187 695 SH CALL Sole 695 GOLDEN MINERALS CO COM COM 5NQ991718 1,639 3,140 SH CALL Sole 3,140 GOLDEN MINERALS COMPANY /CAD/ COM 381119106 13 2,500 SH Sole 2,500 GOLDEN STAR RES LTD CDA COM COM 38119T104 542 275,000 SH Sole 275,000 GOLDEN STAR RES LTD CDA COM COM 38119T104 1,084 550,000 SH Sole 550,000 GOLDMAN SACHS GROUP INC COM 38141G104 114 1,000 SH Sole 1,000 GOOGLE INC CL A CL A 38259P508 302 400 SH Sole 400 GRAN TIERRA ENERGY INC COM COM 38500T101 7,393 1,430,000 SH Sole 1,430,000 GULFPORT ENERGY CORP COM NEW COM NEW 402635304 938 30,000 SH Sole 30,000 HARBINGER GROUP INC COM 41146A106 41 4,900 SH Sole 4,900 HARMONY GOLD MNG LTD SPONSORED ADR SPONSORED ADR 413216300 3,785 450,000 SH Sole 450,000 HARMONY GOLD MNG LTD SPONSORED ADR SPONSORED ADR 413216300 5,046 600,000 SH Sole 600,000 HARMONY GOLD MNG LTD SPONSORED ADR SPONSORED ADR 9XL994273 2,132 2,535 SH CALL Sole 2,535 HARMONY GOLD MNG LTD SPONSORED ADR SPONSORED ADR 9XL994273 1,703 2,025 SH CALL Sole 2,025 HARRIS CORP DEL COM COM 413875105 205 4,000 SH Sole 4,000 HECLA MNG CO COM COM 2VR99S721 917 1,400 SH CALL Sole 1,400 HECLA MNG CO COM COM 2VR99S721 393 600 SH CALL Sole 600 HESS CORP COM COM 42809H107 16,116 300,000 SH Sole 300,000 HEWLETT PACKARD CO COM COM 428236103 107 6,300 SH Sole 6,300 HOLLYFRONTIER CORP COM COM 436106108 10,400 252,000 SH Sole 252,000 HOLLYFRONTIER CORP COM COM 436106108 103 2,500 SH Sole 2,500 HORNBECK OFFSHORE SVCS INC N COM COM 440543106 7,330 200,000 SH Sole 200,000 HORNBECK OFFSHORE SVCS INC N COM COM 440543106 183 5,000 SH Sole 5,000 HORNBECK OFFSHORE SVCS INC N COM COM 440543106 440 12,000 SH Sole 12,000 IAMGOLD CORP COM COM 450913108 2,451 155,000 SH Sole 155,000 IAMGOLD CORP COM COM 450913108 2,846 180,000 SH Sole 180,000 IAMGOLD CORP COM COM 7WJ99V304 356 225 SH CALL Sole 225 IAMGOLD CORP COM COM 7WJ99V304 356 225 SH CALL Sole 225 IAMGOLD CORP COM COM 7WJ99V312 4,209 2,662 SH CALL Sole 2,662 IAMGOLD CORP COM COM 7WJ99V312 3,934 2,488 SH CALL Sole 2,488 IMPERIAL OIL LTD COM NEW COM NEW 453038408 2,728 59,274 SH Sole 59,274 INTEGRYS ENERGY GROUP INC COM COM 45822P105 162 3,100 SH Sole 3,100 INTERCONTINENTAL HTLS GRP PL SPONS ADR NEW SPONS ADR NEW 45857P301 320 12,200 SH Sole 12,200 INTERNATIONAL BUSINESS MACHS COM COM 459200101 187 900 SH Sole 900 INTL PAPER CO COM COM 460146103 12,687 349,300 SH Sole 349,300 INTEROIL CORP COM 460951106 203 2,626 SH Sole 2,626 IRON MTN INC COM COM 462846106 205 6,000 SH Sole 6,000 ISHARES INC MSCI HONG KONG MSCI HONG KONG 464286871 145 7,960 SH Sole 7,960 ISHARES INC MSCI HONG KONG MSCI HONG KONG 464286871 41 2,280 SH Sole 2,280 ISHARES INC MSCI S KOREA MSCI S KOREA 464286772 142 2,400 SH Sole 2,400 ISHARES INC MSCI S KOREA MSCI S KOREA 464286772 40 680 SH Sole 680 ISHARES INC MSCI TAIWAN MSCI TAIWAN 464286731 145 10,830 SH Sole 10,830 ISHARES INC MSCI TAIWAN MSCI TAIWAN 464286731 41 3,100 SH Sole 3,100 ISHARES INC MSCI THAILAND MSCI THAILAND 464286624 139 1,830 SH Sole 1,830 ISHARES INC MSCI THAILAND MSCI THAILAND 464286624 40 530 SH Sole 530 ISHARES SILVER TRUST ISHARES ISHARES 46428Q109 17 500 SH Sole 500 ISHARES SILVER TRUST ISHARES ISHARES 46428Q109 33 1,000 SH Sole 1,000 ISHARES SILVER TRUST ISHARES ISHARES 46428Q109 50 1,500 SH Sole 1,500 ISHARES TR FTSE CHINA25 IDX FTSE CHINA25 IDX 464287184 138 4,000 SH Sole 4,000 ISHARES TR FTSE CHINA25 IDX FTSE CHINA25 IDX 464287184 38 1,110 SH Sole 1,110 ISHARES TR MSCI PERU CAP MSCI PERU CAP 464289842 43 960 SH Sole 960 IVANHOE ENERGY INC COM COM 465790103 227 414,100 SH Sole 414,100 IVANHOE ENERGY INC /CAD/ COM 465790103 11 19,550 SH Sole 19,550 JPMORGAN ALERIAN MLP INDEX ALERIAN ML ETN 46625H365 28 690 SH Sole 690 JPMORGAN ALERIAN MLP INDEX ALERIAN ML ETN 46625H365 49 1,210 SH Sole 1,210 KBW INC COM COM 6WB994741 494 300 SH CALL Sole 300 KBW INC COM COM 6WB994741 247 150 SH CALL Sole 150 KIMBER RES INC COM COM 49435N101 1,043 1,500,000 SH Sole 1,500,000 KIMBER RES INC COM COM 49435N101 35 50,000 SH Sole 50,000 KINDER MORGAN INC DEL COM COM 49456B101 10,961 308,600 SH Sole 308,600 KINROSS GOLD CORP COM NO PAR COM NO PAR 496902404 2,042 200,000 SH Sole 200,000 KINROSS GOLD CORP COM NO PAR COM NO PAR 496902404 1,021 100,000 SH Sole 100,000 KINROSS GOLD CORP COM NO PAR COM NO PAR 496902404 0 1 SH Sole 1 KINROSS GOLD CORP COM NO PAR COM NO PAR 4XP99U219 4,094 4,000 SH CALL Sole 4,000 KINROSS GOLD CORP COM NO PAR COM NO PAR 4XP99U219 2,047 2,000 SH CALL Sole 2,000 KINROSS GOLD CORP COM NO PAR COM NO PAR 6W4992297 1,845 1,803 SH CALL Sole 1,803 KINROSS GOLD CORP COM NO PAR COM NO PAR 6W4992297 1,353 1,322 SH CALL Sole 1,322 KOHLS CORP COM COM 500255104 169 3,300 SH Sole 3,300 KROGER CO COM COM 501044101 153 6,500 SH Sole 6,500 L-3 COMMUNICATIONS HLDGS INC COM COM 502424104 179 2,500 SH Sole 2,500 LAKE SHORE GOLD CORP COM COM 510728108 504 500,000 SH Sole 500,000 LAS VEGAS SANDS CORP COM COM 517834107 464 10,000 SH Sole 10,000 LAS VEGAS SANDS CORP COM COM 517834107 1,020 22,000 SH Sole 22,000 LENNAR CORP CL A CL A 526057104 330 9,500 SH Sole 9,500 LEXMARK INTL NEW CL A CL A 529771107 134 6,000 SH Sole 6,000 LINCOLN NATL CORP IND COM COM 534187109 198 8,200 SH Sole 8,200 LINKEDIN CORP COM CL A CL A 53578A108 843 7,000 SH Sole 7,000 LLOYDS BANKING GROUP PLC SPONSORED ADR SPONSORED ADR 539439109 137 55,000 SH Sole 55,000 LOCKHEED MARTIN CORP COM 539830109 112 1,200 SH Sole 1,200 LORILLARD INC COM COM 544147101 198 1,700 SH Sole 1,700 LOWES COS INC COM 548661107 109 3,600 SH Sole 3,600 MAG SILVER CORP COM COM 55903Q104 9,076 741,000 SH Sole 741,000 MAG SILVER CORPORATION /CAD/ COM 55903Q104 108 9,000 SH Sole 9,000 MARATHON PETE CORP COM COM 56585A102 8,075 147,913 SH Sole 147,913 MARATHON PETE CORP COM COM 56585A102 186 3,400 SH Sole 3,400 MARKET VECTORS ETF TR GOLD MINER ETF GOLD MINER ETF 5ZQ990101 2,551 475 SH PUT Sole 475 MARKET VECTORS ETF TR GOLD MINER ETF GOLD MINER ETF 5ZQ990101 1,117 208 SH PUT Sole 208 MARKET VECTORS ETF TR GOLD MINER ETF GOLD MINER ETF 6ZW996183 3,448 642 SH PUT Sole 642 MARKET VECTORS ETF TR GOLD MINER ETF GOLD MINER ETF 6ZW996183 1,654 308 SH PUT Sole 308 MARKET VECTORS ETF TR GOLD MINER ETF GOLD MINER ETF 72G992489 5,371 1,000 SH PUT Sole 1,000 MARKET VECTORS ETF TR GOLD MINER ETF GOLD MINER ETF 57060U100 1 20 SH Sole 20 MARKET VECTORS ETF TR GOLD MINER ETF GOLD MINER ETF 57060U100 1 20 SH Sole 20 MARKET VECTORS ETF TR GOLD MINER ETF GOLD MINER ETF 57060U100 5 52 SH PUT Sole 52 MARKET VECTORS ETF TR JR GOLD MINERS E JR GOLD MINERS E 7ZA996137 13,596 5,500 SH PUT Sole 5,500 MARKET VECTORS ETF TR JR GOLD MINERS E JR GOLD MINERS E 7ZA996137 6,180 2,500 SH PUT Sole 2,500 MARKET VECTORS ETF TR JR GOLD MINERS E JR GOLD MINERS E 57060U589 1 35 SH Sole 35 MARKET VECTORS ETF TR JR GOLD MINERS E JR GOLD MINERS E 57060U589 1 35 SH Sole 35 MARKET VECTORS ETF TR OIL SVCS ETF OIL SVCS ETF 57060U191 1 100 SH PUT Sole 100 MASTERCARD INC CL A CL A 57636Q104 677 1,500 SH Sole 1,500 MASTERCARD INC CL A CL A 57636Q104 1,219 2,700 SH Sole 2,700 MCEWEN MNG INC COM COM 58039P107 1,377 300,000 SH Sole 300,000 MICHAEL KORS HLDGS LTD SHS SHS G60754101 798 15,000 SH Sole 15,000 MIDWAY GOLD CORP COM COM 598153104 436 265,800 SH Sole 265,800 MINES MGMT INC COM COM 603432105 539 350,000 SH Sole 350,000 MONSANTO CO NEW COM COM 61166W101 5,598 61,500 SH Sole 61,500 MOTOROLA SOLUTIONS INC COM NEW COM NEW 620076307 177 3,500 SH Sole 3,500 NATIONAL OILWELL VARCO INC COM COM 637071101 9,934 124,000 SH Sole 124,000 NETEASE INC SPONSORED ADR SPONSORED ADR 5SB993677 225 40 SH CALL Sole 40 NETEASE INC SPONSORED ADR SPONSORED ADR 57L995545 337 60 SH CALL Sole 60 NEVSUN RES LTD COM COM 64156L101 1,763 375,000 SH Sole 375,000 NEW GOLD INC CDA COM COM 644535106 2,139 175,000 SH Sole 175,000 NEWFIELD EXPL CO COM COM 651290108 6,170 197,000 SH Sole 197,000 NEWMONT MINING CORP COM COM 651639106 8,402 150,000 SH Sole 150,000 NEWMONT MINING CORP COM COM 651639106 5,601 100,000 SH Sole 100,000 NEWMONT MINING CORP COM COM 4X299W020 21,900 3,910 SH CALL Sole 3,910 NEWMONT MINING CORP COM COM 4X299W020 10,922 1,950 SH CALL Sole 1,950 NORDSTROM INC COM COM 655664100 298 5,400 SH Sole 5,400 NORFOLK SOUTHERN CORP COM 655844108 108 1,700 SH Sole 1,700 NORTHROP GRUMMAN CORP COM COM 666807102 199 3,000 SH Sole 3,000 NRG ENERGY INC COM NEW COM NEW 629377508 173 8,100 SH Sole 8,100 NUSTAR ENERGY LP UNIT COM COM 67058H102 137 2,700 SH Sole 2,700 OCCIDENTAL PETROLEUM CORP COM 674599105 86 1,000 SH Sole 1,000 OIL STS INTL INC COM COM 678026105 12,062 151,800 SH Sole 151,800 P T TELEKOMUNIKASI INDONESIA SPONSORED ADR SPONSORED ADR 715684106 350 9,000 SH Sole 9,000 P T TELEKOMUNIKASI INDONESIA SPONSORED ADR SPONSORED ADR 715684106 331 8,500 SH Sole 8,500 PAN AMERICAN SILVER CORP COM COM 697900108 4,826 225,000 SH Sole 225,000 PAN AMERICAN SILVER CORP COM COM 97K99V214 6,115 2,851 SH CALL Sole 2,851 PAN AMERICAN SILVER CORP COM COM 97K99V214 491 229 SH CALL Sole 229 PATTERSON COMPANIES INC COM COM 703395103 171 5,000 SH Sole 5,000 PEREGRINE SEMICONDUCTOR CORP COM ADDED COM 71366R703 424 25,000 SH Sole 25,000 PERRIGO CO COM COM 714290103 174 1,500 SH Sole 1,500 PERRIGO CO COM COM 714290103 871 7,500 SH Sole 7,500 PFIZER INC COM COM 717081103 112 4,500 SH Sole 4,500 PHILIP MORRIS INTERNATIONAL INC COM 718172109 108 1,200 SH Sole 1,200 PHILIPPINE LONG DISTANCE TEL SPONSORED ADR SPONSORED ADR 718252604 265 4,020 SH Sole 4,020 PHILIPPINE LONG DISTANCE TEL SPONSORED ADR SPONSORED ADR 718252604 336 5,090 SH Sole 5,090 PIMCO ETF TR 0-5 HIGH YIELD 72201R783 112 1,100 SH Sole 1,100 PIONEER ENERGY SVCS CORP COM ADDED COM 723664108 5,453 700,000 SH Sole 700,000 PIONEER NAT RES CO COM COM 723787107 11,129 106,600 SH Sole 106,600 PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN UNIT LTD PARTN 726503105 142 1,615 SH Sole 1,615 PLATINUM GROUP METALS LTD COM NEW COM NEW 72765Q205 2,350 2,265,000 SH Sole 2,265,000 PLATINUM GROUP METALS /CAD/ COM 72765Q205 77 75,000 SH Sole 75,000 PLUM CREEK TIMBER CO INC COM COM 729251108 10,960 250,000 SH Sole 250,000 POLARIS INDS INC COM COM 731068102 809 10,000 SH Sole 10,000 POTASH CORP SASK INC COM COM 73755L107 9,817 226,100 SH Sole 226,100 POWERSHARES DB BASE METALS FUND DB BASE METALS 73936B705 108 5,460 SH Sole 5,460 POWERSHARES DB BASE METALS FUND DB BASE METALS 73936B705 61 3,100 SH Sole 3,100 POWERSHARES DB GOLD FUND DB GOLD FUND 73936B606 183 3,000 SH Sole 3,000 POWERSHARES DB GOLD FUND DB GOLD FUND 73936B606 98 1,600 SH Sole 1,600 POWERSHARES DB SILVER FUND DB SILVER FUND 73936B309 120 2,000 SH Sole 2,000 POWERSHARES DB SILVER FUND DB SILVER FUND 73936B309 60 1,000 SH Sole 1,000 POWERSHARES INDIA ETF TR INDIA PORT INDIA PORT 73935L100 43 2,280 SH Sole 2,280 POWERSHARES QQQ TRUST UNIT SER 1 UNIT SER 1 57W994454 2,400 350 SH CALL Sole 350 POWERSHARES QQQ TRUST UNIT SER 1 UNIT SER 1 57W994454 1,200 175 SH CALL Sole 175 PPG INDS INC COM COM 693506107 230 2,000 SH Sole 2,000 PRETIUM RES INC COM COM 74139C102 1,310 100,000 SH Sole 100,000 PRETIUM RES INC COM COM 74139C102 2,883 220,000 SH Sole 220,000 PRUDENTIAL PLC ADR ADR 74435K204 130 5,000 SH Sole 5,000 PULTE GROUP INC COM COM 745867101 357 23,000 SH Sole 23,000 QEP RES INC COM COM 74733V100 792 25,000 SH Sole 25,000 QUEST DIAGNOSTICS INC COM COM 74834L100 190 3,000 SH Sole 3,000 RANDGOLD RES LTD ADR ADR 752344309 2,460 20,000 SH Sole 20,000 RANDGOLD RES LTD ADR ADR 44L990114 8,610 700 SH CALL Sole 700 RANDGOLD RES LTD ADR ADR 44L990114 3,690 300 SH CALL Sole 300 RAYTHEON CO COM 755111507 109 1,900 SH Sole 1,900 RED HAT INC COM COM 756577102 305 5,350 SH Sole 5,350 REGIONS FINANCIAL CORP NEW COM COM 7591EP100 137 19,000 SH Sole 19,000 RELIANCE STEEL & ALUMINUM CO COM COM 759509102 10,994 210,000 SH Sole 210,000 REVETT MINERALS INC COM NEW COM NEW 761505205 1,611 450,000 SH Sole 450,000 RICHMONT MINES INC COM COM 76547T106 238 50,000 SH Sole 50,000 RICHMONT MINES INC COM COM 76547T106 1,000 210,000 SH Sole 210,000 ROSS STORES INC COM COM 778296103 291 4,500 SH Sole 4,500 ROYAL GOLD INC COM COM 780287108 3,994 40,000 SH Sole 40,000 RUBICON MINERALS CORP COM COM 780911103 5,631 1,500,000 SH Sole 1,500,000 SAFEWAY INC COM NEW NEW 786514208 193 12,000 SH Sole 12,000 SANDRIDGE MISSISSIPPIAN TR I SH BEN INT COM UNIT BEN INT 80007V106 5,451 268,000 SH Sole 268,000 SANDSTORM GOLD LTD COM NEW ADDED COM NEW 80013R206 3,533 275,000 SH Sole 275,000 SANDSTORM GOLD LTD COM /CAD/ COM 80013R206 189 15,000 SH Sole 15,000 SCRIPPS NETWORKS INTERACT IN CL A COM COM 811065101 318 5,200 SH Sole 5,200 SEAGATE TECHNOLOGY PLC SHS SHS G7945M107 310 10,000 SH Sole 10,000 SHANDA GAMES LTD SP ADR REPTG A SP ADR REPTG A 81941U105 66 17,500 SH Sole 17,500 SILVER STD RES INC COM COM 78D99V261 6,128 3,823 SH CALL Sole 3,823 SILVER STD RES INC COM COM 78D99V261 2,760 1,722 SH CALL Sole 1,722 SILVER WHEATON CORP COM COM 828336107 5,957 150,000 SH Sole 150,000 SILVER WHEATON CORP COM COM 828336107 10,920 275,000 SH Sole 275,000 SILVER WHEATON CORP COM COM 1SU996079 1,588 400 SH CALL Sole 400 SILVER WHEATON CORP COM COM 1SU996079 794 200 SH CALL Sole 200 SILVERCORP METALS INC COM COM 82835P103 667 103,000 SH Sole 103,000 SILVERCORP METALS INC COM COM 82835P103 117 18,000 SH Sole 18,000 SLM CORP COM COM 78442P106 173 11,000 SH Sole 11,000 SM ENERGY CO COM COM 78454L100 1,894 35,000 SH Sole 35,000 SM ENERGY CO COM COM 78454L100 1,353 25,000 SH Sole 25,000 SMITHFIELD FOODS INC COM COM 832248108 10,375 528,000 SH Sole 528,000 SOCIEDAD QUIMICA MINERA DE C SPON ADR SER B SPON ADR SER B 833635105 10,966 177,900 SH Sole 177,900 SOLITARIO EXPL & RTY CORP COM COM 8342EP107 1,720 955,000 SH Sole 955,000 SOUTHERN COPPER CORP COM COM 84265V105 10,893 317,012 SH Sole 317,012 SOUTHWESTERN ENERGY CO COM COM 845467109 6,956 200,000 SH Sole 200,000 SPDR GOLD TRUST GOLD SHS GOLD SHS 17K99W442 585 34 SH CALL Sole 34 SPDR GOLD TRUST GOLD SHS GOLD SHS 78463V107 2,150 12,500 SH Sole 12,500 SPDR GOLD TRUST GOLD SHS GOLD SHS 78463V107 5,161 30,000 SH Sole 30,000 SPDR GOLD TRUST GOLD SHS GOLD SHS 78463V107 34 200 SH Sole 200 SPDR GOLD TRUST GOLD SHS GOLD SHS 78463V107 378 2,200 SH Sole 2,200 SPDR GOLD TRUST GOLD SHS GOLD SHS 78463V107 52 300 SH Sole 300 SPDR GOLD TRUST GOLD SHS GOLD SHS 78463V107 275 1,600 SH Sole 1,600 SPDR GOLD TRUST GOLD SHS GOLD SHS 78463V107 430 2,500 SH Sole 2,500 SPDR S&P 500 ETF TR TR UNIT TR UNIT 4N799W506 1,800 125 SH PUT Sole 125 SPDR S&P 500 ETF TR TR UNIT TR UNIT 4N799W506 37 225 SH PUT Sole 225 SPDR SERIES TRUST S&P BK ETF S&P BK ETF 78464A797 188 8,000 SH Sole 8,000 SPDR SERIES TRUST S&P BK ETF S&P BK ETF 78464A797 352 15,000 SH Sole 15,000 SPDR SERIES TRUST S&P OILGAS EXP S&P OILGAS EXP 27Q993282 5,569 1,000 SH PUT Sole 1,000 SPDR SERIES TRUST S&P OILGAS EXP S&P OILGAS EXP 27Q993282 8 100 SH PUT Sole 100 SPDR SERIES TRUST S&P REGL BKG S&P REGL BKG 78464A698 286 10,000 SH Sole 10,000 SPDR SERIES TRUST S&P REGL BKG S&P REGL BKG 78464A698 573 20,000 SH Sole 20,000 SPREADTRUM COMMUNICATIONS IN ADR ADR 849415203 102 4,976 SH Sole 4,976 SPREADTRUM COMMUNICATIONS IN ADR ADR 38R994385 206 100 SH CALL Sole 100 SUNOCO INC COM COM 86764P109 197 4,200 SH Sole 4,200 TAHOE RES INC COM COM 873868103 8,551 420,000 SH Sole 420,000 TECO ENERGY INC COM COM 872375100 181 10,200 SH Sole 10,200 TELECOM CORP NEW ZEALAND LTD SPONSORED ADR DELETED SPONSORED ADR 879278208 306 31,493 SH Sole 31,493 TELECOM CORP NEW ZEALAND LTD SPONSORED ADR DELETED SPONSORED ADR 879278208 329 33,810 SH Sole 33,810 TENET HEALTHCARE CORP COM COM 88033G100 179 28,500 SH Sole 28,500 TERADATA CORP DEL COM COM 88076W103 226 3,000 SH Sole 3,000 TERADATA CORP DEL COM COM 88076W103 307 4,070 SH Sole 4,070 TERADATA CORP DEL COM COM 88076W103 754 10,000 SH Sole 10,000 TEUCRIUM COMMODITY TR CORN FD SHS 88166A102 15 50 SH PUT Sole 50 TEUCRIUM COMMODITY TR CORN FD SHS 88166A102 6 20 SH PUT Sole 20 TIMMINS GOLD CORP COM COM 88741P103 552 196,000 SH Sole 196,000 TIMMINS GOLD CORP COM COM 88741P103 829 294,000 SH Sole 294,000 TITANIUM METALS CORP COM NEW COM NEW 888339207 182 14,200 SH Sole 14,200 TORCHMARK CORP COM COM 891027104 154 3,000 SH Sole 3,000 TRANSDIGM GROUP INC COM COM 893641100 993 7,000 SH Sole 7,000 TURKCELL ILETISIM HIZMETLERI SPON ADR NEW SPON ADR NEW 900111204 2,271 150,000 SH Sole 150,000 TYSON FOODS INC CL A CL A 902494103 10,096 630,200 SH Sole 630,200 ULTA SALON COSMETCS & FRAG I COM COM 90384S303 289 3,000 SH Sole 3,000 ULTA SALON COSMETCS & FRAG I COM COM 90384S303 963 10,000 SH Sole 10,000 UNION PAC CORP COM COM 907818108 356 3,000 SH Sole 3,000 UNION PAC CORP COM COM 907818108 712 6,000 SH Sole 6,000 UNITED PARCEL SERVICE INC CL B 911312106 100 1,400 SH Sole 1,400 URANIUM ENERGY CORP COM 916896103 142 54,500 SH Sole 54,500 US BANCORP DEL COM NEW COM NEW 902973304 137 4,000 SH Sole 4,000 V F CORP COM COM 918204108 335 2,100 SH Sole 2,100 VALERO ENERGY CORP NEW COM COM 91913Y100 174 5,500 SH Sole 5,500 VALERO ENERGY CORP NEW COM COM 91913Y100 348 11,000 SH Sole 11,000 VALERO ENERGY CORP COM COM 91913Y100 54 1,700 SH Sole 1,700 VANGUARD NATURAL RESOURCES LLC COM UNIT 92205F106 172 5,950 SH Sole 5,950 VERIFONE SYS INC COM COM 92342Y109 348 12,500 SH Sole 12,500 VERISIGN INC COM COM 92343E102 229 4,700 SH Sole 4,700 VERIZON COMMUNICATIONS INC COM COM 92343V104 205 4,500 SH Sole 4,500 VERIZON COMMUNICATIONS INC COM COM 92343V104 335 7,341 SH Sole 7,341 VISA INC COM CL A COM CL A 92826C839 319 2,375 SH Sole 2,375 VODAFONE GROUP PLC NEW SPONS ADR NEW NEW 92857W209 331 11,610 SH Sole 11,610 WABTEC CORP COM COM 929740108 401 5,000 SH Sole 5,000 WABTEC CORP COM COM 929740108 963 12,000 SH Sole 12,000 WALGREEN CO COM 931422109 109 3,000 SH Sole 3,000 WATSON PHARMACEUTICALS INC COM COM 942683103 426 5,000 SH Sole 5,000 WATSON PHARMACEUTICALS INC COM COM 942683103 1,022 12,000 SH Sole 12,000 WEB COM GROUP INC COM COM 94733A104 808 45,000 SH Sole 45,000 WELLPOINT INC COM COM 94973V107 139 2,400 SH Sole 2,400 WELLS FARGO & CO NEW COM COM 949746101 138 4,000 SH Sole 4,000 WELLS FARGO & CO NEW COM COM 949746101 110 3,200 SH Sole 3,200 WESTERN GAS PARTNERS LP COM UNIT LP IN COM UNIT LP IN 958254104 11,544 229,000 SH Sole 229,000 WESTERN REFNG INC COM COM 959319104 785 30,000 SH Sole 30,000 WEYERHAEUSER CO COM COM 962166104 10,942 418,600 SH Sole 418,600 WILLIAMS COS INC DEL COM COM 969457100 10,491 300,000 SH Sole 300,000 WYNDHAM WORLDWIDE CORP COM COM 98310W108 315 6,000 SH Sole 6,000 WYNN RESORTS LTD COM COM 983134107 208 1,800 SH Sole 1,800 XINYUAN REAL ESTATE CO LTD SPONS ADR SPONS ADR 98417P105 74 26,000 SH Sole 26,000 YAMANA GOLD INC COM COM 98462Y100 12,479 653,000 SH Sole 653,000 YAMANA GOLD INC COM COM 98462Y100 6,689 350,000 SH Sole 350,000 YAMANA GOLD INC COM COM 98462Y100 13,377 700,000 SH Sole 700,000 YANDEX N V SHS CLASS A SHS CLASS A N97284108 3,392 140,700 SH Sole 140,700 GRAND TOTAL 958,949 44,112,736